NerdWallet (NASDAQ:NRDS) Price Target Cut to $14.00 by Analysts at KeyCorp

NerdWallet (NASDAQ:NRDS - Get Free Report) had its price objective reduced by stock analysts at KeyCorp from $18.00 to $14.00 in a research note issued to investors on Monday, Marketbeat Ratings reports. The firm presently has an "overweight" rating on the stock. KeyCorp's price objective would indicate a potential upside of 26.24% from the stock's current price.

Several other equities analysts have also weighed in on the stock. Citigroup dropped their price objective on shares of NerdWallet from $14.00 to $11.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Morgan Stanley dropped their price target on NerdWallet from $15.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Monday, February 24th. Finally, Barclays raised their price objective on NerdWallet from $17.00 to $19.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $15.00.

NerdWallet Stock Performance

Shares of NASDAQ:NRDS remained flat at $11.09 during trading on Monday. 873,163 shares of the stock were exchanged, compared to its average volume of 543,442. NerdWallet has a 12 month low of $7.55 and a 12 month high of $16.45. The business's 50 day moving average is $8.97 and its two-hundred day moving average is $11.97. The stock has a market capitalization of $821.86 million, a PE ratio of 27.73 and a beta of 1.41.

NerdWallet (NASDAQ:NRDS - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, hitting analysts' consensus estimates of $0.01. The firm had revenue of $183.80 million during the quarter, compared to the consensus estimate of $168.33 million. NerdWallet had a negative return on equity of 2.08% and a net margin of 4.42%. As a group, research analysts predict that NerdWallet will post 0.36 earnings per share for the current year.

Institutional Trading of NerdWallet

Several institutional investors and hedge funds have recently made changes to their positions in NRDS. Deutsche Bank AG increased its stake in NerdWallet by 58.2% in the 1st quarter. Deutsche Bank AG now owns 210,385 shares of the company's stock valued at $1,904,000 after buying an additional 77,432 shares during the last quarter. Vanguard Group Inc. increased its position in shares of NerdWallet by 1.8% during the first quarter. Vanguard Group Inc. now owns 3,899,417 shares of the company's stock valued at $35,290,000 after acquiring an additional 69,499 shares during the last quarter. Corton Capital Inc. bought a new stake in NerdWallet during the first quarter worth $137,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in NerdWallet by 57.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,769 shares of the company's stock worth $134,000 after purchasing an additional 5,389 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of NerdWallet during the 1st quarter valued at $681,000. Hedge funds and other institutional investors own 38.81% of the company's stock.

NerdWallet Company Profile

NerdWallet, Inc operates a digital platform that provides consumer-driven advice about personal finance by connecting individuals and small and mid-sized businesses with financial products providers in the United States, the United Kingdom, Australia, and Canada. Its platform offers guidance to consumers through educational content, tools and calculators, and product marketplaces, as well as through NerdWallet app for various financial products, including credit cards, mortgages, insurance, SMB products, personal loans, banking, investing, and student loans.